House Federal Discounts & Loan Assn. v. Ramos (1991)
Defendant Ronald J. Ramos appeals a view adopting the trial judge brought a verdict in favor of plaintiff House Government Coupons & Mortgage Connection (House Government) out-of Ramos’s liability towards the a consumer loan guarantee. We affirm.
Thomas Lynn, a major mortgage officer to own House Government, negotiated this new agreement with Brooks and you will prepared about three data files-the loan amendment arrangement, the promissory notice and also the [229 Cal
Accused Ramos was president of your own Ramos/Jensen Business (R/J Co.), a california agency. R/J Co. was the entire lover away from a finite union, the Peacock Ridge Team (Peacock), designed to complete the newest Peacock Ridge build enterprise. Anywhere between Sep 1983 and you will March 1985, plaintiff Home Government loaned nearly $eight.cuatro mil for the Peacock relationship. All the five os.
When this occurs, Peacock due generous sums for the accrued interest and had other personal debt in connection with the project. Family Federal accepted a good “exercise contract” where they forgave all but $100,one hundred thousand of your appeal and you may accessible to mortgage Peacock a supplementary $50,one hundred thousand. Read more
